On Tuesday, investment company Soonicorn Ventures said that Sebi had given the go-ahead for the formation of an alternate investment fund with Rs 250 crore capital.
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The firm announced in a statement that the recently approved angel fund will have an additional Rs 250 crore available as a green-shoe option, raising the total fund capacity to Rs 500 crore.
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“Soonicorn Ventures (SV), the Gurugram-based investment technology platform, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to introduce an Angel Fund, operating as a Category-I Alternate Investment Fund (AIF),” it added.
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SV takes a sector-neutral approach to investing and will give businesses early cash in the range of Rs 50 lakh to Rs 4 crore. The platform has been making investments in a number of potential industries, including supply chain logistics, B2B SaaS, electric vehicles (EV), and financial technology (FinTech). Startups in Soonicorn Ventures’ portfolio include AutoNxt, Zypp, Zingbus, Samosa Party, and SupplyNote as reported by The Economics Times.
About Soonicorn Ventures
A tech platform for investing in startups and funds is called Soonicorn Ventures (SV). Early-stage venture capital funds, private equity funds, family offices, angel networks, accelerators, HNIs, and startups make up this group, which is only accessible by invitation. Through SV, members get access to pre-screened startup offers and the option to co-invest with other members.
SV was founded with the intention of democratizing the private equity investing sector. Their network’s participants ought to be able to locate and fund high-potential businesses and funds.
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